SBI Cards - Cashing In On The Cashless Surge: Motilal Oswal
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Motilal Oswal Report
SBI Cards and Payment Services Ltd., with an outstanding card base of ~11.8 million, offers a diverse product portfolio of premium, classic, shopping and travel, and exclusive and corporate cards to cater to individual and corporate needs.
The company has strengthened its position as the second largest card player in the country, with market share of ~19% in outstanding cards and ~20% in overall spends.
It enjoys State Bank of India’s strong parentage, with an extensive network of ~22,000 branches and a vast customer base of ~450 million.
It has doubled its card base over FY17–20 at an average incremental market share of 23% (~32% over FY21-year-to-date).
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